IMF loan makes it possible to avoid technical default in Ukraine

The IMF decision to provide financial assistance to Ukraine is a signal to the world and investors that Ukraine is not a bankrupt, but the country in which one can invest. This was reported by deputy of the “Samopomich” Union faction Victoriia Voitsitska.

She notes that for the first time in the history of Ukraine’s cooperation with the IMF we are talking not about the annual loan program «Stand-by credit», but about the four-year Extended Fund Facility (EFF) amounting to $17.5 billion. The first tranche will make $5 billion.

According to her, $ 2.3 billion of the IMF loan will most likely be spent to pay off the current loan debts of Ukraine. Thus the country will be able in due course to call in the loans and avoid technical bankruptcy.

The remaining $ 2.7 billion from the first tranche, which are provided for the needs of the budget, may be used to fund social programs, including payment of subsidies.

Viktoriya Vojtsitska
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